Tag: Technical Analysis

USDJPY – Down

Technical observation

Recently there’s has been a massive decline in price of USD against the JPY, yesterday price broke below a key line 106.54 with a big red candle and is still going down, I expect a possible correction of price to 106.54 and a rejection of it at the line followed by decline in price. I would advise you wait for a correction and a rejection to 106.54 then short the pair with your take profit at 102.77 and stop loss at 107.20.If price gets breached below 102.77 then wait for a correction to it then short USD.Right now I can only recommend short positions as i expect price to continue short today and the next coming days.

Technical levels

Resistance levels

R1.109.39

R2.109.99

R3.111.25

Pivot

108.78

Support levels

S1.108.13

S2.107.45

S3.106.19

Trade signal

Wait for a correction and a rejection to 106.54 then short USDJPY with your take profit at 102.77 and stop loss at 107.20.

You may check other analytical reviews on FreshForex website. Source: freshforex.com.

GBPUSD – Flat

Technical observation

Yesterday at 2000hrs GBPUSD broke above a key resistance zone (1.4045-1.4023), price then tried going up but was pulled back to the zone and got rejected then went up. Currently price is still rallying above the zone and I expect a pull back and a possible rejection of it at or around the zone to enter long positions. If you had not bought the pair then my advice, is wait for the correction to the zone then buy GBP with your first take profit at 1.4261 and the next at 1.4342 and your stop loss.4023) around 1.3970.Short positions can only be recommended after a breakout below (1.4045-1.4023) towards 1.3833.

Technical levels

Resistance levels

R1.1.3839

R2.1.3847

R3.1.3862

Pivot

1.3832

Support levels

S1.1.3824

S2.1.3817

S3.1.3802

Trade signal

Wait for a correction to (1.4045-1.4023) then buy GBP with your first take profit at 1.4261 and the next at 1.4342 and your stop loss.4023) around 1.3970.

You may check other analytical reviews on FreshForex website. Source: freshforex.com.

EURUSD – Up

Technical observation

On the 4H chart above,EURUSD broke above a key resistance zone (1.2471-1.2455) on 15th of February this year, price then retraced to the zone as a support but got rejected and went up. Currently it is rallying above the zone and I expect possible pullback to it to buy EURUSD.In case there’s a clear breach of price below (1.2471-1.2455) then that would be the best time to short the pair after a retracement to the zone towards 1.2301.Right now only long positions look ideal and can be advised around or within (1.2471-1.2455) with your take profit at .12560 and stop loss around 1.2401.

Technical levels

Resistance levels

R1.1.2281

R2.1.2291

R3.1.2311

Pivot

1.2271

Support levels

S1.1.2262

S2.1.2251

S3. 1.2232

Trade signal

Buy EUR around or within (1.2471-1.2455) with your take profit at .12560 and stop loss around 1.2401.

You may check other analytical reviews on FreshForex website. Source: freshforex.com.

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EURUSD – Up

Technical observation

On the daily chair above,EURUSD broke down below a support zone(1.2393-1.2368),a bullish pin bar was then seen within the zone after the breakout then price went down, right now price is being corrected to the zone and I expect a possible rejection of it around the zone for bearish movements of price towards 1.2185 or even break below the key line and proceed further down to 1.1935 and even 1.1721,my advice, short EURUSD now around (1.2393-1.2368),with your first take profit at 1.2185 and the next at 1.1935 and your stop loss around 1.2452.In case price breaks above the resistance zone, wait for a retracement to it before entering long position.

Technical levels

Resistance levels

R1.1.2291

R2.1.2331

R3.1.2413

Pivot

1.2250

Support levels

S1.1.2209

S2.1.2166

S3.1.2084

Trade signal

Short EUR now with your take profit at 1.2185 and your stop loss around 1.2452.

You may check other analytical reviews on FreshForex website. Source: freshforex.com.

USDJPY – Down

Technical observation

On the daily chart above,USDJPY has been trading on an upward trend,recently,price retraced to a resistance zone (110.46-110.15) but got rejected and is currently rallying towards a key line 109.79.I expect a possible rejection of price at 109.79 and a correction to the resistance zone to resellUSD with my take profit at 109.79 and stop loss at 110.95.In case price does not get rejected at 109.79 and instead breaks below it, then I would advise you wait for a retracement to the just broken line before you sell USDJPY towards 105.78.If price breaks above (110.46-110.15) then that would be the ideal time to buy USD.

Technical levels

Resistance levels

R1.109.39

R2.109.99

R3.111.25

Pivot

108.72

Support levels

S1.108.13

S2.107.45

S3.106.19

Trade signal

Re sell USD around (110.46-110.15) with your take profit at 109.79 and stop loss at 110.95.

You may check other analytical reviews on FreshForex website. Source: freshforex.com.

GBPUSD – Flat

Technical observation

Price broke down below a support zone (1.4069-1.4023) on 5th of this month, it then went down before correcting to the broken zone with a pin bar tail then continued down up to a key line 1.3792.Currently price is rallying towards (1.4069-1.4023) and I expect a rejection of it at the zone or around the zone for a bearish movement of price towards 1.3792 or even further lower to 1.3313.Right now i would advise you short GBPUSD after a rejection of price around the resistance zone with your first target at 1.3792 and the next at 1.3313 and stop loss at 1.4134.

Technical levels

Resistance levels

R1.1.3953

R2.1.4082

R3.1.4306

Pivot

1.3859

Support levels

S1.1.373

S2.1.3636

S3.1.3412

Trade signal

Short GBPUSD around (1.4069-1.4023) with your first target at 1.3792 and the next at 1.3313 and stop loss at 1.4134.

You may check other analytical reviews on FreshForex website. Source: freshforex.com.

EURUSD – Up

Technical observation

A clear breakout was seen on the daily chart above on 7th of this month this year when price went down below a support zone (1.2379-1.2334) with a big red candle, it then rallied below the zone and is currently retracing back to it.I expect a possible rejection and bearish movement of price towards 1.2184,I expect price to also break out below the next key line 1.1935 and continue further down towards 1.1741.Right now only short positions look ideal and can be advised within (1.2379-1.2334) with your first take profit at 1.2184 and the next at 1.1935 and your stop loss at 1.2434.

Technical levels

Resistance levels

R1.1.2291

R2.1.2331

R3.1.2413

Pivot

1.2248

Support levels

S1.1.2209

S2.1.2166

S3.1.2084

Trade signal

Short EURUSD around (1.2379-1.2334) with your first take profit at 1.2184 and the next at 1.1935 and your stop loss at 1.2434.

You may check other analytical reviews on FreshForex website. Source: freshforex.com.

GBPUSD – Flat

Technical Observation:

Gbp is currently trading few pips above it’s daily pivot line seen at 1.3907. While the price is contained above this pivot line, I expect a momentum towards 1.4640. Earlier today, Gbp pulled back upwards from 1.3860. I expect this to be an onset of a bullish rally with my take profit set 1.4640. On the way upwards, the key lines to look for include 1.4160, 1.4370, and 1.4640. As it is, only a long position can be recommended, but if the price breaks below 1.3860, then I may consider a short position towards 1.3315.

Technical Levels

Resistance levels

R1: 1.3966

R2: 1.4053

R3: 1.4199

Pivot

1.3907

Support Levels

S1: 1.3615

S2: 1.3761

S3: 1.382

Trade Signal

Long from 1.3860 towards 1.4640

You may check other analytical reviews on FreshForex website. Source: freshforex.com.